MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) changed irregular on Aug.18:
380 HSFO – USD/MT – 440.44 (-1.45)
VLSFO – USD/MT – 533.94 (-1.04)
MGO – USD/MT – 633.61 (+2.48)
The MABUX ARA LNG Bunker Index, calculated as the average price of LNG as a marine fuel in the ARA region, showed a slight decline on August 19: 978.64 USD/MT (minus 3.67 USD). The LNG Bunker Index exceeds the cost of MGO LS in the port of Rotterdam by 425.64 USD (MGO LS was 553 USD/MT as of August 18), the difference in price compared to the day before decreased by 7.67 USD. LNG bunker indices are available at www.mabux.com.
As of August 18, a correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (Digital Bunker Prices Benchmark) in four largest global hubs showed that 380 HSFO fuel remained undervalued in all selected ports, except Fujairah, where this type of fuel was overvalued (plus $ 11 – unchanged from the previous day). The underpricing margins in other ports were: minus $ 15 in Houston (unchanged from the day before), minus $ 29 (minus $ 40) in Rotterdam and minus $ 36 (minus $ 37) in Singapore The most significant change of the MABUX MBP/DBP Index was registered in Rotterdam: down $ 11.
VLSFO, according to the MABUX MBP/DBP Index, was underestimated in all selected ports on 18 August. The VLSFO underpricing was minus $ 5 in Houston (minus $ 8 the day before), minus $ 32 (unchanged) in Fujairah, minus $ 33 (minus $ 35) in Singapore and minus $ 30 (minus $ 34) in Rotterdam. MABUX MBP / DBP Index did not have any significant changes in all selected ports.
MABUX MBP/DBP Index also registered the underpricing of MGO LS in all selected ports on August 18: in Houston – minus $ 15 (minus $ 22 the day before), in Rotterdam – minus $ 62 (minus $ 63), minus $ 79 (minus $ 78) in Singapore and minus $ 52 (unchanged) in Fujairah. According to the MABUX MBP/DBP Index, MGO LS fuel is the most undervalued in Rotterdam and Singapore.
We expect global bunker prices decreased slightly today: 380 HSFO – minus 4-6 USD/MT, VLSFO – minus 5-8 USD/MT, MGO LS – minus 2-4 USD/MT.
Source: www.mabux.com